The federal government moves quickly on the climate change policy nearly three months into the new administration. Climate change has been a priority issue Democrats have said that they want to address. President Biden appointed John Kerry as a Climate Change presidential envoy and raised the issue across the federal government.
The majority leader of the Senate directed all relevant Senate committees to start holding climate hearings. The President of the House is ready to act, as he is not an unfamiliar person in the fight for climate law. Republicans, too, know that their constituents are struggling with the effects of climate change, especially their younger voters looking forward to representation in this national debate. Conference climate action this year is not a matter of — it must occur.
Moreover, if the fee is rightly designated, it would equitably be paid as a division to every citizen of the country. The fact is that carbon fees are the most effective way of reducing carbon emissions quickly. Scientific, health, economic and business support shows that a low-carbon energy policy driven by market policy is a consensus solution. We’re going to explore why.
By 2050, net zero greenhouse gas emissions in the world should be achieved. “Carbon pricing is an essential condition of ambitious policies for the climate,” the IPCC Report 2018 states. A steadily increasing carbon fee can reduce emissions sufficiently to achieve the net zero emission objective by 2050 while returning those costs back to the customer.
Deep emission reductions will contribute not only to the climate, but also to public health. In the next 50 years, we could save 4.5 million Americans through pollution reduction and clean air restoration. That is why, by defining the Lancet Commission as ‘the single most powerful strategic instrument for inoculating human health against the dangers of climate change,’ it endorses carbon pricing.
A carbon tax may also bring economic advantages for Americans besides health benefits. Pricing carbon via a taxation and dividend structure, sometimes referred to as a “carbon cash back,” actually puts carbon fee income in people’s pockets to compensate for the additional cost of energy and helps fund their investment in low carbon alternatives. It is estimated that up to 85% of Americans come forward.
A “market-based approach to speed emissions reductions” recently announced the US Chamber of Commerce’s support for the strategy, which makes enterprises ultimately aware of how they are changing to clean power supply. It is much more predictable and lasting than other rules. Whether and where to invest in low carbon energy options will be open to the public. The trillions of dollars in carbon taxes paid back to the public as dividends will provide enterprises and industries with customers to promote investment in innovation and infrastructure.
A good example of such legislation is the Energy Innovation and Carbon Dividend Act, which is presently passing through Congress. Implementing it is easy and quick. The dividend comes on a monthly basis and compensates for the increased costs of fossil fuels. Companies can anticipate future costs as the cost increases.Predictability will encourage people and companies to invest in alternative clean energy sources. As the dividend is identical for everyone, those who invest in renewable energy or energy efficiency would have an additional green investment return. Citizensclimatelobby.org visit for information on carbon pricing in the Citizen Climate Lobby.
With over 60% of people in the country and 74% in the County of Santa Cruz wanting to do more to tackle climate change, moving effective CO2 pricing legislation through conferences would be in keeping with the 51st Earth Day, putting the United States on the quick track toward a more healthy and livable future.
Source: Santa Cruz Sentinel, California